
COTTON 



AND 



COTTON MANUFACTURE 



A BRIEF ANALYSIS 
FOR THE LAYMAN 



Third Printing 



The First National Bank 
OF Boston 



COTTON 



AND 

COTTON MANUFACTURE 



A BRIEF ANALYSIS 
FOR THE LAYMAN 



BY 

James Paul Warburg 

OF 

The First National Bank of Boston 



Third Printing 



The First National Bank 
OF Boston 






Copyright, 1921 
The First National Bank of Boston 



OOP¥S!©fiT omtf 



JUL 28 7 f 



/ 



Ml' 




CONTENTS 


(5 




Cotton and Cotton Manufacture. 




Part One. 






The Raw Material. 


Chapter 


1. 


The Cotton Plant. 


Chapter 
Chapter 
Chapter 
Chapter 
Chapter 


2. 
3. 
4. 
5. 
6. 


History and Distribution. 
Cultivation. 
Grades and Staples. 
Buyers of Raw Cotton. 
The Cotton Exchanges. 



Part Two. 

The Manufacture of Cotton. 

Chapter 7. History in the United States. 

Chapter 8. Making Cotton Yarn. 

Chapter 9. Weaving Gray Goods. 

Chapter 10. Converting and Finishing. 

Chapter 11. The Knitting Industry. 

Chapter 12. Other Cotton Products. 

Part Three. 

From Mill to Consumer. 

Chapter 13, Industrial Organization. 
Chapter 14. Distribution of Products. 

Part Four. 

The Position of the United States. 

Chapter 15. Cotton Production and Consumption. 

Chapter 16. Export of Cotton Goods. 

Chapter 17. Import of Cotton Goods. 

Chapter 18. The Various Sections of the United States. 



i M. 



Pictures by courtesy of the Pacific 
Mills and Keystone View Company 



Frontis- 
piece 



ILLUSTRATIONS 

PREFACE PAGE 
Cotton Bolls --..-- 2 

PART ONE. The Raw Material. 

Cotton Field ------ 

PART TWO. The Manufacture of Cotton. 

The Square Bale . . - - - 16 

Bale Breakers ... - - 19 

Picker Room ■ - - • - - 20 

Principle of the Flat Card. (Drawing) - - 21 

Feed End of Card. Lap Entering - - - 22 

Delivery of Sliver - .... 22 

Drawing ...... 23 

Roving Frame . .... 24! 

Four Stages of Roving ... - 25 

Ring Twister ..... 27 

The Ring Frame Principle. (Drawing) - - 27 

Yarn of Filling Bobbin, Warp Bobbin, and Spool - 28 

The Barber Knotter ----- 29 

Spooling ...... 30 

The Creels ...... 31 

The Slasher ------ 32 

Drawing In - - - - - - 33 

Weaving Shed of Power Looms - - - 34 

Inspecting - - - - - - 36 

Sewing Ends Together - ... 36 

Singeing ...... 38 

Napping --.... 38 

Bleaching Kiers ..... 39 

Printing Machine • - - - - 40 

A Battery of Forty-eight - - - - 41 

Engraving Plate ----- 42 

Transferring Design to Copper Roller - - 43 

Cloth in Tenter-frame .... 44 

Calendar ...... 45 

Folding --.-.. 45 

PART FOUR. The Position of the United States. 

Production and Consumption Charts - - 56 



PREFACE 



The importance of cotton in the civilized life of today is prob- 
ably but vaguely realized by the majority of people. In this country 
we consume raw cotton at the rate of about twenty-six pounds per 
capita each year, which if translated to yards of cloth and other 
fabric, would make a strip longer than the distance from the earth 
to the moon, and a yard wide all the way. 

Perhaps the best illustration of the importance of this fibre can be 
found in the plight of Germany during the recent War. In spite of her 
accumulated stores of cotton and her domestic production of wool, 
hemp and flax, in spite of the fact that considerable cotton filtered 
through in the early months of the blockade, her population at the end 
of four years was wearing clothes made of paper. Tablecloths, nap- 
kins, towels, sheets, underwear, hosiery, not to mention draperies, were 
practically unobtainable. Bandages and surgical dressing were made 
of paper; gun-cotton had to be displaced with "Ersatz", as did sail 
cloth, tire duck, and numberless other commodities. 

The following pages attempt to set forth for the layman the essential 
outlines of the story of the cotton fibre. In Part One we shall take up 
the raw material, — what it is, and where and how it is grown and mar- 
keted. In the second part we shall see briefly how cotton is made into 
various kinds of finished goods, while the third part will deal with in- 
dustrial organization and the distribution of finished goods into the 
channels of consumption. Lastly, in Part Four we shall sketch the 
relative position of the United States, and the importance of various 
sections of the country. 



ni 



In the preparation of this pamphlet many authors have been con- 
suhed, but none perhaps as freely as Professor M. T. Copeland of 
Harvard University, from whose exhaustive studies the writer has 
gained much of the information contained in subsequent pages. 
Thanks are due also to many friends of the First National Bank of 
Boston for their kind assistance in rendering opportunities for first 
hand observation, and particularly to the Pacific Mills for the loan 
of their pictures. 

Boston, Mass., October, 1920. 




Cotton Bolls. 



PART ONE 

THE RAW MATERIAL 




2 

Hid 



CHAPTER I 



The Cotton Plant 

The word, "Cotton", is said to be derived from an Arabic word, 
"Qutun", originally meaning flax; and the botanical name of the plant, 
Gossypium, signifying the fleece worn, was first found in the writings 
of Pliny, and is derived from the Sanskrit. Thus, in the mere origins 
of the colloquial and scientific designations of the plant, we have ample 
proof of its antiquity. 

The cotton plant belongs to the mallow family and is a native of the 
tropics. The genus has a great many botanical varieties, all of which, 
in the wild state, are perennial, but under cultivation tend to become 
annual. One variety, Gossypium Arboreum, which is found chiefly in 
Mexico and Brazil, attains a height of over fifteen feet. This tree cotton, 
however, has not been extensively cultivated because of the obvious ex- 
pense of picking. Of the herbaceous varieties the most commonly 
known are the American and the long-staple Egyptian. G. Barbadense, 
known as Sea Island cotton, is another long staple variety which is 
grown only in certain counties of Georgia, South Carolina and Florida. 

In all the cultivated species the plant attains a height of two to four 
feet. The leaves vary, but all have characteristic lobes. The blossoms 
also vary a good deal in color, but have this in common that the 
seeds are contained in a pod or boll which is filled with a floss not un- 
like that of the common milk-weed. In due course the boll bursts, ex- 
posing the mass of fluff"y fibre from which the plant derives its ex- 
traordinary value. The superiority of cotton over other vegetable 
fibres, such as hemp or flax, is in the natural twist, which makes it in- 
herently adaptable to spinning. The single fibre consists of a hollow 
tube having transverse joints at irregular intervals, and this tube, when 
dry, has a tendency to flatten out and curl. The more of this natural 
elasticity is found in the fibre the better it is for spinning purposes, 
and an immature fibre is for this reason unsatisfactory. Cotton is 
exceedingly susceptible to moisture, and a succession of violent atmos- 
pheric changes will cause such a rapid contraction and expansion in its 
fibre as to destroy its elasticity. From the point of view of the manu- 
facturer there is very little diff'erence between immature cotton and 
that which has suffered loss of vitality. 

Besides yielding a natural wool from which a tremendous number 
of products are derived, the seed of the plant gives forth a highly use- 
ful vegetable oil, and the stems and leaves are used for fodder. 



Derivation 
oj Names 



Botanical 
Types 



The 

Cotton 

Plant 



The Fibre 



Seeds 

and 

Stems 



15] 



CHAPTER II 



History and Distribution 

Ancient The origin of the cultivation and commercial use of cotton is 
History shrouded in the dim veils of antiquity. The records of India show that 
the plant was grown, and its fibre utilized, from the earliest times. 
The Phoenicians and the Hebrews are known to have made cotton cloth- 
ing, and later the art was transmitted by them to the Greeks and 
Romans. The vague annals of China indicate a familiarity with this 
plant and its value extending back to the remote past, and the same 
is true of Japan. Cortez found a flourishing textile industry among 
the Aztecs in 1519, and in Peru, Pizarro found cotton garments said 
to antedate the civilization of the Incas. Again early Portuguese 
chroniclers relate the discovery of native cotton in Brazil. 

The Arabs and Saracens were largely responsible for the introduc- 
tion of the textile industries to western Europe in the ninth century, 
but it was not until about the middle of the seventeenth century that 
any great progress was made. During this time the British began to 
attempt the cultivation of cotton in their colonies, and it was about 
1650 when the first Virginia plantations were begun. Since that time 
the United States has forged ahead until at present it grows over 
three-fifths of the world's crop. 

The cultivation of cotton in Egypt was begun about 1821, American 
Sea Island seeds being imported at that time. The fertile alluvial soil 
of the Nile delta was found particularly adapted to this use, and ex- 
tensive irrigation later expanded the area. The construction of the 
Great Assouan Dam late in the nineteenth century gave a tremendous 
impetus to the industry. Egyptian cotton is mostly of the long staple 
variety, the best, known as Sakellarides, averaging an inch and three 
quarters. The 1919 crop consisted sixty per cent, of this variety, the 
remainder being composed of Ashmouni, Mitafifi, Abassi, and other 
kinds, roughly classed as Upper Egyptians. 

Cotton culture in India is perhaps the oldest of all, but Indian cotton 
is of the short staple variety, and can only be used by certain manu- 
facturers most of which are located in Japan and Germany. About 
twenty-five million acres are said to be under cultivation, but statistics 
are very meagre. 

China has long been a large grower of cotton, but the native species 

are of a harsh, short fibre. Korea and the Yangtze and Wei basins are 

the chief sources, and American cotton has recently been introduced in 

the southern provinces. 

Other Russia began to raise American cotton on a large scale in Turkestan 

Countries only some fifteen years ago, and bids fair to become a large producer. 



Europe 



America 



Egypt 



India 



China 



161 



The plant is indigenous to almost all the Central and South American 
countries, and particularly in Mexico, Brazil and Peru, it has great 
potentialities. Peru has two kinds of native cotton known as the rough 
and smooth varieties. The former is of a very long and tough fibre 
and is valuable because it can be blended with wool. 

The greatest part of the American crop consists of the Upland var- 
iety, although, as we have noted, there is a small but important crop 
of Sea Island in the Southern Atlantic states. Another long staple 
species, known as Pimas, has recently been introduced in Arizona, and 
the alluvial soil of Mississippi, Arkansas, and Louisiana has produced 
still other desirable species, locally known as "Rivers," "Peelers," and 
"Benders." Before we consider the relative manufacturing merits of 
the various kinds of cotton, it would perhaps be well to consider briefly 
how the crop is grown. 

CHAPTER III 

Cultivation 

The cotton season of course varies in different latitudes, but the plant- 
ing is done everywhere in the early spring months. The proper care 
and fertilization of the soil and its preparation to receive the seed is of 
the utmost importance. The plant ripens in about four months, so that 
the picking season in this country usually begins in August, and con- 
tinues until the first killing frost. From the time of the opening of the 
first bolls the cotton continues to grow, unless killed by drought or in- 
sects, until the cold puts a stop to vegetation, and the same stalk fre- 
quently contains ripe and immature cotton at the same time. The cot- 
ton which matures first and has been least exposed to weather when 
picked is likely to be freer of spots and discolorations than that which 
is picked at the end of the season. 

The two great enemies of the cotton plant are drought and insect 
depredations. Late frosts and the right quantity of rain and sunshine 
are what every cotton planter prays for, and praying is about all he can 
do in this respect. Not so, however, with insects. Unfortunately there 
are a great number of rapacious little creatures rendered particularly 
hardy by some caprice of Nature, to whom the growing cotton plant 
represents an especial delicacy. Against them the planters, under the 
guidance of the Department of Agriculture, are waging continuous 
warfare. It is said that insect depredation, at pre-war prices cost the 
country an annual sum of $60,000,000, more than half of which is at- 
tributable to the two worst offenders, the boll weevil and the boll worm. 
Coming in hordes across the Mexican border, the boll weevil has de- 
stroyed millions of bales of cotton annually, and as yet no very effec- 
tive remedy has been found to exterminate it. 



American 
Varieties 



Growth of 
the plant 



Enemies of 
the plant 



The Boll 
Weevil 



J7| 



Even at that, however, the planter's greatest worry is perhaps not so 
much the growth as the harvesting of his crop. To get his cotton 
picked rapidly and properly, an operation for which no successful 
machinery has yet been devised, and to have it properly ginned, pre- 
sents his chief problem. If cotton is left too long on the stem it will be 
Weather exposed to the detrimental effects of the weather. Coloring matter 
Defects from the newly opened bolls, or from the soil, is washed into the floss 
by the rain, and while such spots or stains may be bleached out by the 
sun, the lustrous bloom never returns. Frost will make permanent 
tinges or stains, and the wind will frequently wrap the pendulous locks 
of fibre-covered seed about the stems of the plant or tangle them up in 
the leaves. 

When the pickers do not exercise proper care stems and leaves 
frequently get picked along with cotton, and a considerable quan- 
tity of dirt inevitably finds its way into their bags. Or else the 
cotton may be picked when it is damp, with the result that the teeth of 
the gin, instead of picking out the seeds and stems will cut the matted 
fibres, producing a class of cotton known as "Gin-cut". Moreover the 
gin brushes will be unable to separate the matted tufts, and so they go 
into the bale as "naps" or "neps". All these factors militate against 
the planter in his efforts to have his crop classified as high as possible. 



Careless 
Picking 



Bad 

Ginning 



CHAPTER IV 



Grades 
Based on 
Condition 



The Full 
Grades 



Tinges and 
Stains 



Grades and Staples 

The classification of cotton into the standard grades fixed by the 
Government constitutes an exceedingly difficult art. There is absolutely 
no mechanical basis, and the classification is a purely relative one. 
The kind of plant has no bearing whatsoever, nor has the length or 
strength of staple. It is really a distinction based upon the condition 
of the cotton, rather than upon its inherent attributes. 

The grade "MIDDLING" is the basis upon which the market values 
of the other grades are quoted. There are eight full grades : 



Fair 

Middling Fair 
Good Middling 
Middling 



Low Middling 
Good Ordinary- 
Ordinary 
Low Ordinary 



Between these full grades are the half grades, known as the Stricts, 
and some classers use quarter grades with which, however, we shall 
not concern ourselves here. The grades and half-grades are quoted for 
whites, tinges, and stains. A stain is a heavy discoloration while a tinge 
is a lighter hue, and partial discolorations, known as spots, are per- 



isi 



missible in the lower grades of whites. The values of the various 
grades are always quoted as so many points on or off White Middling, 
a point being 1/lOOth. of a cent. Thus, if Middling White were quoted 
at 24c and Ordinary as 300 points off, it would mean that Ordinary was 
worth 21c. An example is given below of a regular quotation sheet. 

U. S. Grades * White ** Tinges ** Stains 

Middling Fair 403 on Nominal Nominal 

Strict Good Middling 328 on 49 off a Nominal 

Good Middling 253 on 152 off a 447 off a 

Strict Middling 135 on 300 off a 618 off a 

Middling Basis 456 off a 809 off a 

St. Low Middling 305 off 704 off a Nominal 

Low Middling 843 off 1064 off a Nominal 

Strict Good Ordinary 1230 off Nominal Nominal 

Good Ordinary 1518 off Nominal Nominal 

*U. S. Government differences. 

** Average of differences on New York, New Orleans, Memphis and either the 
Savannah or the Augusta exchanges. 

It is obvious that in this classification the human element plays a 
great part. The difference between quarter grades, or even half grades, 
or between a tinge and a stain, are subject to a great variety of inter- 
pretations. While there is no definite standard. Middling must be 
cream or white, must show no soil evidence, no gin-cuts or naps, may 
have a few pieces of leaf (not powdered), and a few motes, (imma- 
ture seeds). As the grades go up the cotton must be freer of impuri- 
ties until the top grades have to show practically a perfect lustrous, 
silky, white, and clear fibre. On the lower side the impurities increase, 
until, in the Ordinaries, we find large and small leaf particles, sticks, 
hulls, dirt, sand naps, gin-cuts, and spots, together with a dingy color. 

It is this classification that governs the trading on all the exchanges, 
and upon which the planter originally sells his crop. The exceptions 
are those varieties of cotton which are distinct from the crop as a 
whole. Sea Islands are sold as Fancy, Choice, Fine, Medium, and Con- 
mon. Bolly or immature cotton is sold by separate agreements; and 
Linters, the fibres regained by the seed mills from reginning the 
seed, are not sold on this basis. Neither is what is known as the 
"City Crop" of loose cotton accumulated from taking samples, sold 
in this way. (Incidentally, as the result of the sampling of 14,000,000 
bales, it is estimated that the yearly "City Crop" amounts to three 
hundred thousand bales. 

Aside from grade there are two other qualifications which are of 
equal importance to the manufacturer: length, and strength. Lengths 
are quoted in eights of an inch, and cotton under 1%" is termed short, 



"Points^' 



The Human 

Element 



Proportion 

of 

Impurities 



Some 

Cottons not 
Sold on 
Middling 
Basis 



Staple 
Length 



191 



Elasticity 



while that over lYg" is long. The normal lengths run from %" to 
1% "? and it is noteworthy that, where a normal difference between 
grades would be 25 points, the difference of %" would be about 250 
points. "Pulling" for staple is another art where the individual's 
judgment plays an important part. 

Strength, — elasticity and tensile strength, — is again one of the mill's 
prerequisites. The usual buyer's test for fibre vitality is to compress 
a sample in the hand to see if it will return to its former shape. The 
importance of length is that it governs the fineness of the yarn to be 
spun, while grades affect the finish of the cloth. We shall see later that 
mills cannot buy mixed lots, but must have even-running grades of 
fixed staple. 



Store-keepers 
as Local 
Buyers 



Large 
Growers 



Intermediate 
Buyers 



Financing 

Early 

Stages 



CHAPTER V 
Buyers of Raw Cotton 

The small planters of the South are usually unable to finance them- 
selves independently through the growing and picking seasons. Conse- 
quently the local store-keeper, from whom the planters buy their 
supplies, usually extends credit in the form of an open account and so 
becomes the first middleman. Not infrequently the store-keeper will 
accept cotton rather than money in settlement of his accounts and where 
he follows this practice he becomes what is known as a local buyer. 
When he has accumulated sufficient cotton he sells either to an inter- 
mediate buyer, or to the buyer for some merchant or mill. 

In the case of the larger grower, or the syndicate of growers, the local 
buyer is usually eliminated. The planters obtain their credit from the 
large merchant buyers, who in turn are carried by their banks. 

Very frequently the local buyers are scattered so thickly through a 
neighborhood, and each accumulate such small and heterogeneous lots 
of cotton that an intermediate buyer finds his way into the natural or- 
der. Sometimes the intermediate is merely a "scalper" who buys from 
the local dealer and sells to merchant buyers. In other cases, notably 
in Texas, he acts as a concentrating agent, buying at local points from 
growers and selling, usually at compress points, to representatives of 
merchants or mills. In the latter case he is referred to as a "street 
buyer." 

Where the grower surrenders his cotton to the local dealer the latter 
usually has it ginned, but in cases where the planter is able to finance 
himself he takes his cotton to the gin himself, pays lor the ginning, 
and either sells in so-called gin bales, (before they are compressed) 
or, if a warehouse is available at the gin or compress point, holds his 
cotton until he can obtain a satisfactory price for it. The local banks 



no I 



perform a very important part of the crop financing at this stage, for, 
since the grower sells for cash, the buyers require advances. These 
are made by the Southern banks against buyers' tickets, showing cotton 
purchased, against gin receipts, warehouse receipts, compress receipts, 
and finally when the cotton is shipped, against bills of lading. 

The large cotton merchants fulfill a very essential function in that 
they are responsible for the concentration of the raw material and for 
its redistribution into the proper channels of manufacture. They main- 
tain branches and representatives throughout the entire cotton growing 
areas and are directly connected by wire with all the important ex- 
changes. By far the bulk of their buying is done after the close of the 
New York Exchange from local and intermediate buyers who during 
the day have been acquiring mixed lots of all sorts. The merchant's 
representative, known as the take-up man, goes over and classifies the 
cotton accumulated by the local buyers, takes a sample from each bale 
which he tags with a duplicate of the shipping tag he places on the 
bale itself, and then ships the cotton to the concentration point and the 
samples to the office at that place. He pays the local buyer by draft 
or check. 

The office at the concentration point, usually where there is a com- 
press, has in the meantime received instructions from the head office as 
to how to make up the various lots. As the bales are compressed they 
are collected into even-running lots of certain grades for which the 
head office has received inquiries from mills, and are shipped out in 
this way. The branch office will ship according to instructions forward- 
ing the bills of lading with invoices and sight drafts to the head office 
or to some bank. 

Almost all cotton is brought on Middling Basis, but some is taken on 
sample with guarantees, (often a dangerous practice for both parties), 
and some is taken at a fixed price per bale. 

A few Southern mills buy direct from nearby growers, but the pre- 
ponderant majority and practically all the Northern mills obtain their 
cotton through merchants, or through brokers representing Southern 
merchants. 

We have seen briefly how the cotton is grown and brought to market, 
but we have still to consider the all important question of what deter- 
mines the price at which it changes hands. 



The Merchant 

Buyer's 

Importance 



The Take-up 
Man 



Even-running 
Lots from 
Compress 
Point 



Direct 
Buying 



nu 



CHAPTER VI 

The Cotton Exchanges 

''Spot" Cotton trading falls roughly into two categories: trading in cotton 

f.p „ for immediate delivery, or spot cotton; and buying or selling for de- 

livery at some future time. Purchases or sales of spot cotton mean 
that cotton actually will be delivered from vendor to purchaser, but, as 
we shall see, trading in futures does not necessarily mean that the con- 
tract will be fulfilled by delivery. The great cotton markets are New 
The Great York, Liverpool, New Orleans, Bremen, and Havre. Of these New 
York is almost entirely a futures market, while New Orleans is chiefly 
a spot market. Liverpool, Bremen, and Havre trade in both spot and 
futures, but Liverpool is the European centre for trading in future con- 
tracts. 
The New York Only about 2% of the annual crop is sold spot in New York, and 
Cotton yet it is the prices on the New York Cotton Exchange which govern very 

txchange largely the price paid to the grower in the South by the various 
buyers. The New York Exchange is the barometer of the American, 
and to a large extent, of the world's cotton trade, because its mechan- 
ism works out the equilibrium between demand and supply; and as this 
mechanism consists chiefly of the trading device called the "Hedge", 
we shall digress for a moment to consider its operation. 
The "Hedge" ^^ might say that hedging is an insurance against fluctuations in 
cotton prices by purchase or sale of future contracts for cotton against 
sale or purchase made for actual delivery. It consists of nothing more 
than of neutralizing the gain or loss which will result from existing de- 
livery contracts if the price rises or falls before delivery date, by creat- 
ing an off -setting loss or gain. 
As Used Assume, for instance, that a merchant makes a contract with a mill 

by the m July for 100 bales October delivery. He sells at the current price 

Merchant q£ jg^ ^g g^y 3Q ^^nts per pound plus his overhead and profit. In due 
course he will obtain his cotton from the South, but in the meantime he 
covers, or hedges his contract by buying 100 bales of October futures 
on the Exchange. If he has to pay the grower 31 cents for the cotton 
which he has sold to the mill for 30 cents, he will on the other hand, 
be able to sell his future contract which he bought at 30 cents for 31 
cents, so that the loss on one is neutralized by the gain on the other. 
Vice versa, he will lose whatever extra profit he might have made from 
a falling price. 
By the In the same way a manufacturer may buy futures against orders he 

Manufacturer has accepted for goods, based on the price he expects to pay for his cot- 
ton. Or he may sell futures to protect himself on cotton he has bought 
but has not yet covered by cloth contracts. Hedging by manufacturers, 



1121 



however, particularly in the North, is not a common practice, because 
the cloth market is not elastic enough to follow accurately in the wake 
of cotton prices, and also because the mill treasurer rarely wants to 
hedge cotton in his warehouse, preferring to rely on his own judgment 
in matters of purchase. 

Occasionally a grower may find it to his advantage to hedge his crop. 
If, for example, he is satisfied in August that the present price for De- 
cember is likely to be higher than he will obtain later, he may sell 
December futures for a conservative percentage of his crop, thereby 
guaranteeing himself against a drop. 

By far the greatest part of the future trading, however, is done by 
merchants, because they are actually engaged in the business of selling 
cotton which they have not yet acquired or of carrying cotton for which 
they have no contracts. Speculation, of course, enters into the dealings 
on the exchanges as an important economic factor, in normal times 
tending to stabilize by discounting future trends, but in periods of 
extraordinary demand or supply frequently causing violent fluctuations 
in prices. At such times there is always a good deal of agitation for 
preventive legislation, but it is unlikely that dealing in futures will ever 
be prohibited by law. The present regulations of the large exchanges 
eliminate abuse as far as possible, and the futures markets are really a 
factor of safety for the entire industry. 

All the large merchants, as we have seen, have branch offices in the 
South, and all these offices have wire connections with the chief markets. 
On the basis of the Liverpool quotations and the New York opening 
prices the head offices will send out to their branches and representa- 
tives their daily limits, above which they are instructed not to buy. In- 
asmuch as most of the small growers are dependent for their news of 
the markets upon the buyers, they are at somewhat of a disadvantage, 
but the keenness of competition prevents their exploitation by unscrupu- 
ous buyers. 

A contract on the New York Cotton Exchange calling for the delivery 
of 100 bales specifies Middling grade, but the seller may deliver any 
grades which are tenderable by the Exchange regulations. These grades 
are from Strict Low Middling to Middling Fair, but if tinged, not below 
Middling Tinged. Stains are not tenderable. The grades are deter- 
mined and settlement made on the basis of so many points on or off 
Middling, which, as we have seen, is the basis for all quotations. 

It is evident that mills, which require certain even-running grades, 
could of course never buy their cotton on the Middling basis. For this 
reason, except in the few cases where they buy direct from the growers, 
mills purchase their requirements from dealers on the basis of samples. 
Selling to mills, as opposed to selling M/B, is known as selling on 
merit. Mills usually begin to buy in September and fill about 60% of 



By the 
Grower 



Speculation 



The 

Dissemin- 
ation of 
Quotations 



New York 
Cotton Con- 
tract 



1131 



their year's requirements by January. Those manufacturers who use 
Buying the high grades usually buy earliest because of the limited crop from 
Season which they must obtain their share. Cotton is ordinarily shipped soon 
after purchase and stored not by the merchant but at the mill. The 
recent growth of Southern warehouse companies, however, has caused 
mills to carry less cotton than formerly. Mills ordinarily pay for their 
cotton in three days. 

We have now traced rapidly how the cotton is grown and marketed, 
and our next concern will be to follow what happens to it during the 
process of making it into goods. Deferring for the moment consider- 
ation of cotton export from the United States, we shall proceed in Part 
Two, to glance at the various aspects of Cotton Manufacture. 



il4l 



PART TWO 

THE MANUFACTURE OF COTTON 




The Square Bale. 



CHAPTER VII 



History in the U. S. 

Much has been written on the subject of the textile industry and per- 
haps even more still remains to be said. It is not the object of this 
brief survey to present a complete picture of all the stages of manu- 
facture, but rather to place briefly before the reader a necessarily 
kaleidoscopic view of the various processes. In a pamphlet, "Wool 
and Wool Manufacture," published in June, 1920, by the First National 
Bank of Boston,* spinning and weaving were discussed at somewhat 
greater length than will be possible in these pages, where we shall con- 
cern ourselves more with those features of cotton manufacture which 
are unlike its sister industry. 

Although the first cotton mill in the United States was founded in 
Rhode Island by Samuel Slater in 1790, Whitney's invention of the 
cotton gin in 1793 marked the real beginning of the cotton growing and 
manufacturing industries in this country, because it solved the hitherto 
vexatious problem of separating the fibre from the seed. Nevertheless, 
until the war of 1812, this country exported almost all of its cotton to 
Great Britain, and imported from there its cotton goods. The war 
stimulated the textile industry for two reasons: first, because no British 
goods were available; and second, because it brought about the trans- 
ference of New England capital from ships and commerce to home 
manufacturing industries. The census figures for 1805 show 4,500 
spindles in the country; in 1825 there were 800,000. 

Various inventions, notably Lowell's power loom in 1814, and 
Jenck's ring spindle in 1830, made it possible for the New England 
manufacturer to compete with the skilled labor of England, and up to 
the time of the Civil War the industry made rapid strides. In 1831 
795 establishments with 1,200,000 spindles used 77,800,000 pounds of 
cotton and manufactured $32,000,000 worth of goods. Thirty years 
later there were 1091 mills with 5,200,000 spindles using 422,700,000 
pounds of cotton and making a product worth $115,700,000. At this 
time 570 of the mills were in New England, 340 in the Middle Atlantic 
States, 159 in the South, and 22 in the Western States. The New Eng- 
land mills, however, averaged twice as many spindles as the others, 
and Massachusetts and Rhode Island alone contained 48% of the total. 

Home industries at this time supplied most of the coarse drills and 
sheetings, while the fine goods were imported from England. There 
was a small export trade of coarse goods to Asia. The Civil War cut 
off the industrial centers from their raw material so that for five years 



Slater's 
Mills ■ 

Whitney's 
Gin 



Stimulus of 
War of 1812 



Growth to 
1860 



Civil War 



3rd Edition of this pamphlet is still in print and may be obtained on application 
to The First National Bank of Boston. 



sm 



Rapid 
Industrial 



no progress was made, and when normal life was resumed a new tend- 
ency towards concentration became manifest. From then on the num- 
ber of plants decreased and the individual establishment grew larger, 
so that in 1880 there were fewer mills and four and one-half times as 
many spindles as twenty years before. 

While we shall discuss the geographical distribution of the industry 
in a later chapter, it is worthy of note here that the feature of the period 
Rise of the jjegj^ning about 1880 and extending to the present time, was the 
gradual growth of the spinning and weaving industry in the South. 
The social and economic system in the Southern states before the abo- 
lition of slavery made those states entirely agrarian, but as soon as a re- 
covery from the war was accomplished, manufacturing, and particular- 
ly cotton manufacturing, grew up surprisingly fast. A glance at the 
growth in spindlage in the United States from 1880 to 1910 will 
suffice to illustrate. The units represent millions. 



1880 

North 10.1 

South .5 



1890 


1900 


1910 Inc. 30 yrs, 


12.6 


14.5 


17.4 7.3 


1.7 


4.5 


11.2 10.7 



Sixty per cent, of the increase since 1880 was in the South. We 
shall discuss the present relative positions of the various sections in 
Part Five, and shall proceed now to a brief analysis of what the manu- 
facturing processes are. 



The Bale 



The Bale- 
Breaker 



CHAPTER VIII 
Making Cotton Yarn 

Almost all cotton comes to the mill in standard compress bales of 
five hundred pounds gross. The cotton is condensed to about 22 pounds 
per cubic foot at the compress, wrapped in coarse jute bagging, and 
circled with iron hoops. (See figure 3.) For some time there has 
been a movement to improve the so-called square bale, or to replace 
it with a different form of packing. Sea Island cotton is frequently 
packed in a smaller round bale, and there is much to be said for this 
practice. What we are concerned with here, however, is that the mill 
receives the cotton in a compressed form which must be loosened be- 
fore anything can be done with it. 

Accordingly, the first thing that happens is that the hoops are cut, the 
bagging removed, and the cotton thrown by hand into the feed-apron 
of the bale-breaker. This machine does nothing more than to pick the 
compressed cotton apart and deliver it in tufts about the size of a hand- 
full on a belt conveyor. 



yi8i 




Bale Breakers. 



The travelling belt or feeder delivers these bunches of cotton into 
machines called Openers, which simply repeat the operation of the bale- Thg Opener 
breaker on a more thorough scale, reducing the large tufts into many 
smaller ones. These small pieces are dropped into an air chute and 
drawn along parallel rods up to the picker room. During transit in 
the trunk much of the heavier dirt falls between the rods and is re- 
moved. 

In the most recent installations larger bale-breakers are used which 
reduce the cotton to small tufts and deliver through an air pipe to a 
condenser in the picker-room. The condenser either empties into bins 
or else on to the automatic feed of the breaker-pickers. 



1191 




Picker Room. 

As the tufts come out of the chute they fall into the first of three 
machines known as Pickers, whose function is to beat out the coarser 
impurities and deliver the cotton in rolls of batting called laps. In 
Pickers ^^^ first, or breaker-picker the tufts are thoroughly whirled and 

Remove pounded over grid-bars by rollers armed with short flail-like projec- 
Coarse Dirt tions, and then compressed into a continuous sheet or lap of a given 
weight per yard, which is wound on a large spool and delivered 
to the second, or intermediate picker. This machine practically repeats 
the operation only that it combines four laps from the first picker into 
one which it hands over to the last, or finisher picker. The latter again 
takes four intermediate laps and forms them into one sheet of fairly 
clean cotton, containing very little dirt or seed, but still fairly filled 
with small particles of leaf. In these preliminary operations the cot- 
ton has lost about five per cent, of its weight. 



[201 



FLATS 



WASTE BRUSH 




PRINCIPLE OF THE FLAT CARD 



Before anything else can be done it is now necessary to remove the 
leaf particles, and to separate the individual fibres from their matted 
position. Both these functions are performed by the machine known 
as the Card, the principle of which is that of two surfaces armed with 
fine wire teeth revolving not quite tangent to each other. Originally 
carding was performed by hand with two instruments similar to butter- 
pats, but the Wellman carding machine was one of the earliest textile 
inventions. This was considerably improved by the revolving flat card 
in 1857. 

The lap from the finisher picker is fed over a plate on to a revolving 
cylinder bearing wire teeth, which combs it over a set of knives, thereby 
removing coarse dirt, and passes it on to a large cylinder armed with 
millions of fine wire teeth. The latter carries the cotton past a slowly 
revolving endless chain of flats which remove the neps and fine dirt. 
The clean, separated fibres are then picked off the cylinder by a 
smaller rapidly revolving roller called the doffer, which carries them 
in a filmy sheet to be in turn removed by the doffing comb. The latter, 
working so rapidly that the eye fails to see it, lifts the sheet of fibres 
clear so that it may be passed through a funnel and condensed into a 
single untwisted rope a little under an inch in diameter. This rope is 
called a sliver, and is automatically coiled into a can like an umbrella- 
stand. 



The 

Function 
of the 
Card 



Its 
Operation 



1211 




^.: 



Feed End of Card. Lap Entering. 




Delivery of Sliver. 



iW f I 




Drawing. 

We have now for the first time reduced the raw material to a con- 
tinuous strand, comparatively free from impurities. Up to this point, 
no matter what kind of yarn is to be spun, the operations are practically 
identical, but from here on the processes vary according to the product 
desired. A hank of yarn is 840 yards (not to be confused with the Counts of 
worsted hank of 560 yards) and the number of hanks it takes to make a ^°''"' 
pound is the basis upon which yarn is classified. Thus a coarse yarn 
which weighs only twenty hanks to the pound, would be called 20s, 
while 80s would be a very fine yarn. Various fabrics require different Two 
grades of yarn, just as different finenesses of yarn must be spun from Processes 
varying grades of cotton. The processes preparatory to spinning vary, 
not only with the counts to be spun, but with the use to which the yarn 
is to be put. Ordinary coarse and medium yarns for weaving usually 
follow one process, while fine counts for weaving, or knitting yarn, or 
coarse yarn made from long-staple cotton such as that used for tire- 
duck, go through a different preparation. The former are simply 
drawn and reduced, while the latter are in addition combed. 



1231 



" ? 





Roving Frame. 



First 
Process 



Drawing 



In the ordinary process, which is by far the most commonly used, 
the sliver from the card is put through successive similar oper- 
ations, known as drawing, the object of which is to draw out the fibres 
and cause them to lie parallel to each other. Six card slivers are fed 
together between two pairs of rollers, the second of which is revolving 
faster than the first. The obvious result of this is the stretching of 
that portion of the slivers which is between the two sets of rollers. The 
operation is usually performed two or three times, in each case com- 
bining six strands into one. The sliver delivered by the third drawing 
machine will be of the same diameter as the original card sliver, but 
will contain more or less parallel fibres. 



1241 




Four Stages of Roving. 

There remains now only one series of operations before the yarn is Roving 
ready to be spun. The sliver must be reduced in size and given a cer- Operations 
tain amount of twist; these objects are accomplished by the roving 
frames, of which there are either three or four. The first, or slubber, 
passes the drawn sliver through rollers without combining, and winds 
it up on bobbins set in spindles. The sliver is twisted by being fed 
onto the bobbin by an arm, or flyer, which revolves a little more slowly 
than the spindle, being drawn around after it. The result is a slightly 
twisted sliver, now called a roving, about the diameter of a clothes-line. 

The intermediate, fine frame, and jack frame, — or, if there are only 
three roving boxes, the intermediate and fine frames, — combine two rov- 
ings into one of smaller size and more twist. The mechanism is much 
the same, except that in each successive frame the spindles are smaller 
and revolve faster, until finally the thread is small enough to spin. 



Slubber 



125 1 



Second 
Process 



Lapper 



The 
Comb 



Drawing 
Doublings 



The Ring 
Frame 



Where it is desired to spin special kinds or very fine yarns twenty 
card slivers are usually combined in a machine similar to a drawing 
frame and known as a sliver-lapper. The twenty ends are drawn be- 
tween rollers and delivered not as we should expect in one strand, but 
in a narrow band or lap, which is wound on spools. Four of these 
laps are again combined and drawn over a spiral surface in the rib- 
bon lapper which delivers its product to the comb. The cotton is now 
in a band less than a foot wide, with fibres more or less parallel and 
practically clean. Since it is desired to spin a yarn which demands 
not only parallel but uniform fibres, the short fibres must be elimi- 
nated. 

There are a considerable number of combing machines in use at the 
present time, but their diflferences are mechanical rather than in the 
function they perform. The Heilmann principle is the most commonly 
used in this country. Eight rolls from the ribbon-lapper are placed 
in separate rests, or heads, end to end, and each lap is fed through 
rollers between teeth of a very fine and rapidly oscillating steel comb. 
Every back and forth motion, known as a nip, delivers about half an 
inch of filmy sheet from which the short fibres have been combed out. 
The eight combed sheets are then once more condensed into a single 
sliver and coiled into a cylindrical can. 

Following the comb there are usually two drawing frames, each com- 
bining six slivers into one, and these are followed by the three or four 
roving frames as in the other process. In the ordinary process the last 
roving as it leaves the jack frame has been doubled 27,648 times; in 
the combed yarn there are 2,959,120 doublings before spinning begins. 

Spinning proper is done either on the mule or the ring spindle. Very 
little cotton is spun on mules in this country, although mules are 
extensively used in Europe. (*) We shall concern ourselves here only 
with the ring spindle, and that in bare outline. 

The principle of the ring frame is very similar to that of the roving 
operations which immediately precede it. The thread is again drawn 
through two or three sets of rollers running at successively higher rates 
of speed, and then passes as shown on the accompanying sketch through 
a guide to a small metal loop, called the traveller, which runs around 
on a metal track or ring within which the spindle with its bobbin is 
revolving. Since the spindle pulls the traveller around after it, the yarn 
is twisted or spun as it is wound on the bobbin. Sometimes two spools 
of roving are spun into a single thread, but more frequently there is no 
combination. All the rings on one frame, usually about 256, are 
moved up and down together on their spindles, so that yarn will be 
wound evenly on the bobbin. 

*Mule Spinning is briefly described in "Wool and Wool Manufacture." 



5261 



.a#^airf¥^"-l ■■:/ 



"a ""<• , 1 w*a»i 







^THE 
GUI DE I RING FRAME 
^PRINCIPLE 



BOBBIN 



TRAVELLER; 
RING FRAME 



SPINDLE 





Yarn of Filling Bobbin, Warp Bobbin, and Spool. 



Warp and 

Filling 

Bobbins 



Not only is a different bobbin used for spinning warp and filling 
yarns, but they are also wound differently on the bobbin. Warp yarn 
is wound evenly up and down the whole length of the bobbin, while 
the filling bobbins, which go straight from the spindle into the shuttle 
of the loom, are wound on in sections to facilitate rapid unwinding. 



28 




The Barber Knotter. 



We have now proceeded as far as the finished yarn. Sometimes, how- 
ever, when a particularly strong thread is desired, or in cases of fancy 
designs, it is desirable to twist two or more threads of yarn together, Tivisting 
this being known as two-ply, three-ply, etc. Various effects are ob- 
tained by twisting different yarns together, and sometimes worsted and 
cotton strands are twisted together. The operation is done on a frame 
similar to the spinning frame. 

In these and subsequent operations the Barber Knotter, a little de- 
vice worn on the hand of the operative, has enormously increased The Barber 
efficiency. By a single motion an entirely unskilled girl can knot and 'knotter 
cut off evenly the ends of two threads. 



29 I 




Spooling. 




The Creels. 



Principle 
of Weaving 



CHAPTER IX 

Weaving Gray Goods 

The principle of weaving cloth from yarn is of course a familiar one. 
The warp threads are stretched out parallel to each other, and the 
filling, or weft, passed back and forth over and under alternate warp 
threads. Inasmuch as the weft bobbins are simply placed in the shuttle 
as they come from the spindle, the preparatory processes of weaving are 
entirely concerned with arranging the warp. The modern loom is the 
culmination of years of technical endeavor, and the actual weaving is 
now done entirely automatically, even to the replacing of empty shuttles 
with new ones without stopping the loom. The only time when the 
human operative has to step in is when through the breaking of a single 
thread the entire mechanism comes to a standstill, or when the beam 
contains no more warp threads, or the filling magazine is empty. The 
work of preparing the warp is, however, still an arduous process in 
which highly skilled labor must be employed. 

The first operation consists of winding the yarn from the bobbins on 
to spools, each containing the same length of yarn. This must be done 
with care or considerable waste will result. 

The next step is to place these spools in a rack or creel where they The Creel 
fit on glass bearings so that they may be arranged in the proper order 
and run through the warper on to the section beam. The latter is a 



Spooling 



(311 





The Slasher. 



Sizing 



large roller several of which are combined to form a beam. The beam 
is the name given to the roller which is placed in the loom to deliver 
the warp threads. 

In order both to strengthen the warp threads and to make them 
smoother for weaving it is usual to apply some starchy or glutinous 
substance to them. This operation, which is performed in a machine 
called the Slasher, is termed yarn sizing, and consists of running the 
threads through a bath of preparation and then drying them quickly 
on a large steam-filled drum or can. One slasher will do enough work 
for 200 to 500 looms. 



5 32 




■KB' 
m 




M^ 



Drawing In. 



Since it is necessary that the warp threads may be lowered or raised 
in various combinations to allow the passage of the shuttle, each warp 
thread must be passed through an eye in the centre of a harness wire. 
Where, for instance, the warp is to be raised and depressed in three even 
sections there will be three harness frames, each fitted with enough 
heald-wires to accomodate one-third of the number of threads in the 
entire warp. In the Jacquard loom, used for intricate patterns, each 
warp-thread is separately controlled. The passing of the ends of the 
warp through their proper harness wires is a delicate and skilfull 
operation known as healding, or drawing-in. At the same time that 
this is done the threads are passed through individual stop-motion 
wires, relaxed tension on any one of which will bring the loom to a 
stop. 



1331 




o 
o 



•hi 



Closely connected with drawing-in, is the final step in the prepar- 
ation of the warp, and this is called reeding or sleying. In order to Reeding 
keep the warp threads in proper position during weaving they are 
passed through the wires of what looks like a comb with a strip across 
the open ends. This, the sley or reed, is attached to the batten on the 
loom and serves in addition to drive home each weft thread after the 
shuttle has passed. 

When the loom has devoured all the warp threads contained on one 
beam, all that is necessary, if the pattern is to be continued, is to tie the f^arp 
ends of the old warp to the ends of the new, and this is accomplished ^^^^"5 
with marvelous accuracy by a little machine built on the same prin- 
ciple as the Barber Knotter. This avoids drawing-in a second time. 

When the preparatory processes have been completed the actual 
weaving is done, as we have seen, practically without human agency. 
The shuttle flies back and forth at the rate of from one to two hundred The Power 
picks per minute, and when its thread is exhausted it drops out and. Loom 
in the automatic loom, is immediately supplanted by a fresh one. The 
harness frames jerk up and down, forming and reforming the V shaped 
shed through which the shuttle passes; and after each pick the batten 
drives home the new thread into the ever-growing stretch of cloth. Like 
the film in a kodak, where a roller at one end gives out plain paper 
which is rolled up at the other end as a magic sheet of pictures, so in 
the loom the homely warp threads are rolled out at one end, while the 
roller at the other extreme winds up smooth gray cloth. 

We have now made yarn out of cotton, and unbleached cotton cloth, 
or gray goods, out of our yarn. All that remains before the fabric goes 
to the finisher is an inspection for imperfections and their removal 
where possible, usually by hand. 



|35[ 




Inspecting. 




Sewing Ends Together. 



CHAPTER X 



Converting and Finishing 



Old-Fashioned 
Bleaching 



Sewing 
Together 



Cotton cloth as it comes from the loom has a gray or yellowish ap- 
pearance due to the impurities it contains. The old-fashioned method 
of removing these consists in simply spreading the cloth in the sun for 
a few days until it is bleached white. Most cloth mills dispose of their 
goods in the gray and allow the finishing to be done by a separate es- 
tablishment, although the large manufacturers of "fancies" sometimes 
do their own finishing. 

The first step in the finishing plant is to inspect the cloth and then 
to sew the ends of many pieces together into long strips. This greatly 
facilitates subsequent operations, because the cloth can now be run 
through various processes as a single unit. 

In order to obtain a smooth surface for later processes, the cloth is Brushing 
first run through a machine which brushes up the fibres and loose ends, 
much as a carpet-sweeper picks up the fibres of a carpet. Sometimes a 
bladed roller like a lawn-mower is used. 

Removing the raised lint is a dangerous operation because it might 
easily damage the cloth, and this is usually done by the process of 
singeing. The cloth is run rapidly through gas flames or over hot Singeing 
plates and is quickly cooled. In this way the fuzz is burned off without 
injuring the cloth. 

The next step is usually the bleaching process, except where the cloth 
is to be finished as a corduroy, velvet, or flannel. In the latter case it is 
first run through the napper, a machine which brushes up the fibre with 
wire teeth in such a way as to leave a raised face or nap. 

Bleaching is accomplished by boiling the cloth for several hours in 
large iron tanks known as kiers, which contain a solution of caustic 
soda. Next it is washed and scoured in dilute acid for several hours 
with the object of removing iron stains. Then it is again washed, 
boiled a second time, washed, run through a chemical solution of 
bleaching powder, and allowed to steep. After a last washing the cloth 
is dried by running over copper drums filled with steam, and is then 
rolled up in bundles about the size of a barrel. 



Napping 



Bleaching 
Process 



37 




Napping. 




Bleaching Kiers. 



White Goods 



If the cloth is to be finished as plain white goods it is next starched 
and ironed (calendared), inspected, and put up in bolts for shipment. 

If, however, it is desired either to dye or print the cloth with various 
colors and designs, it still has several treatments to pass through. 
White goods are sometimes mercerized, but more commonly this process 
is employed with cloth that is to be dyed. Mercerization is the treating j^j^rcen 
of cotton yarn or cloth to the action of caustic soda dissolved in water, tion 
the remaining soda being removed by a wash of dilute sulphuric acid. 
The result is an increased strength of fibre, loss of elasticity, silky ap- 
pearance, and an affinity for certain dyes and mordants. 

The subject of dyeing is one of intense interest and wide scope, but 
it is unfortunately beyond the field of this brief survey. Suffice it to 
say that various chemical processes and mechanical devices are em- 
ployed to give a permanent color to the cloth. (Yarn and raw stock 
dyeing are less commonly employed in the cotton than in the woolen Dyeing 
and worsted industries.) 



(391 




Printing Machine. 



Some cotton cloth is simply dyed with a solid color and finished, but 

Resist and frequently it is first dyed with one color and then printed with others, 

Discharge or with a chemical which will discharge the dye and leave white figures 

Printing wherever it touches the cloth. In contrast to this discharge method, 

where it is desired to obtain white figures on a colored back-ground, it 

is also possible first to print the figures with a chemical that will resist 

the subsequent action of the dye-stuff. Where a white ground is used 

and it is not essential that the colors and design appear on both sides 

of the cloth it is not necessary to dye at all. 



1401 




A Battery of Forty-eight. 



The printing process is a very old one, and was employed centuries 
ago in China and India, where natives used to impregnate cloth with 
colored designs by pounding small wooden blocks carved and filled 
with color on its surface. The modern printing machine has a series of 
copper rollers in which the design to be printed is etched or sunk. 
Under each roller where it is fixed in the printing press is a trough filled 
with the particular coloring matter which that roller is to print on the 
cloth. As the mechanism revolves the roller is constantly supplied with 
new color, which is scraped off its surface except where the sunken de- 
sign holds it, by a knife, called the doctor. If the design calls for six 
colors there will be six rollers at work, and so on up to fourteen colors 
at a single run through the press. 



Printing 
Process 



hh 




Engraving Plate. 



Engraving An infinite numher of designs are printed, and the method of getting 

them etched on the copper roller is a fascinating one. A zinc plate is 
carved hy hand on a greatly enlarged scale from the original sketch, 
and from this plate the girls who operate the pantograph machines 
transfer the outlines of each color on to the copper rollers. 



H2 1 




Transferring Design to Copper Roller. 



When the roller is placed in the pantograph it is coated with var- j^^ 
nish. As the girl traces the outlines of the design on her zinc plate Pantograph 
with a little pointer, she presses a treddle which brings a number of 
little diamond points in contact with the roller. Each one of these 
points cuts through the varnish, reproducing the design in its original 
size. There will he as many points as the number of times the design 
is repeated across the roller. When the roller is finished it is given a 
bath in nitric acid which will eat into the copper where the varnish has 
been cut away, thus sinking the design so that it will hold color. 



1431 




Cloth in Tenter-frame. 



Aging and 



Starching 



The Tenter 



There remain now only the finishing operations before the cloth is 
ready to be packed for the market. Usually, after printing, the cloth 
is steamed, or aged, to make the colors fast. Then it is fixed and soaped 
thoroughly, after which it is run through the drier. 

In order to give the cloth the proper "feel" an operation is next per- 
formed which closely resembles warp sizing. A certain amount of hot 
starch is pressed into the cloth, after which it is drawn through the 
tenter frames and not only dried but stretched back to its normal width. 
The tenter frame is about one hundred feet long and contains long lines 
of steam pipes. On each side an endless chain with clips grips the cloth 
and moving gradually further apart, these chains stretch the cloth, de- 
livering it dry and of even width. (Some goods, notably those made 
for Asiatic consumption in England, are not only starched but filled 
with China clay, which adds over 100% to their weight.) 

As it comes off the tenter the cloth goes through steel rollers and is 
pressed smooth, after which it is automatically folded and made ready 
for ticketing and packing. 



(44 




Calendar. 




Folding. 



CHAPTER XI 



History 



Ttvo Types 

of 

Machines 



The Flat 
Bed Knitter 



The 

Circular 
Machine 



The Knitting Industry 

We have just seen by what processes cotton yarn becomes first gray 
cloth, and then finished goods. There is of course a tremendous 
variety of woven fabric, ranging all the way from the coarsest sail 
cloth to the finest organdie. And there are certain finishes such as vel- 
veteen and corduroy which, for want of space, we have not even touched 
upon. There is, however, a whole class of cotton fabric which is not 
woven but knit; and since most of our hosiery and underwear are made 
in this way, it behooves us to take at least a brief glance at the knitting 
industry. 

The principle of knitting is so familiar to every one who is or has a 
mother or wife that no description of it is necessary. Curiously enough, 
although the original stocking frame was invented as far back as 1589, 
power was applied to the industry for the first time at Cohoes, N. Y., 
in 1832. This city is still the centre of underwear manufacture in this 
country. 

Knitting is now done on two general types of machines: the flat bed 
knitter, and the circular knitting machine. In the former the garment 
is knit in one flat piece and seamed afterwards. Underwear made in 
this way is described as full-fashioned. On the circular machine a 
seam is not necessary, for the complete cylinder of fabric is made at 
once. While it is possible to manufacture underwear on a circular 
frame, its use is far better adapted to the knitting of hosiery, and a very 
large industry for the manufacture of this product has grown up in and 
near Philadelphia. 

The Cotton Knitting Frame, invented in 1864, is still the basis of the 
modern flat-bed knitter. The product is a flat web which can be widened 
or narrowed by transferring the loops from the edge needles to a 
separate instrument, and then replacing them. In knitting stockings, 
the shaped legs are made on one machine, then transferred to a heeler, 
and then to a third machine which knits the feet. The stockings then 
must be seamed up the back. The largest machines are capable of 
knitting twenty-four garments at one time. The advantage of this type 
is that it produces more elastic fabric, but it requires more operatives 
and more highly skilled labor than the circular machine. 

A series of inventions made in Philadelphia from 1867 to 1889 per- 
fected the completely automatic circular machine of which there are 
now more than seven times as many in use in this country than there 
are full-fashioned knitters. The seamless machine goes on continuously 
and manufactures the entire garment at once. Narrowing is done by 
shortening the loops, and this accounts for the loss of elasticity. 



H61 



The finishing operations consist of seaming where necessary and re- 
moving imperfections. 

The growth and importance of the industry is perhaps best realized 
from the fact that in 1870 there were 5,625 machines in the country, in 
1905, 88,374, and now well over one hundred thousand. In 1850 men 
wore hand-knitted socks and flannel underwear. From 1860 to 1910 
the product of the country's knitting machines rose from $7,300,000 to 
$200,100,000. 

Cotton yarn is used more than woolen because it spins cheaper and 
is less difficult to knit. 



Growth 



CHAPTER XII 
Other Cotton Products 

Before concluding this part of our survey which deals with the manu- 
facture of cotton into finished goods, we must at least enumerate some 
of the by-products and minor fruits of the industry. 

To begin with, at the time that the cotton is ginned the seeds are sold Seed OH 
to the manufacturers of cotton oil. Without going into detail as to the 
process, we have here an annual product for this country worth $384,- 
000,000. Seed mills regin the seed before they crush it and remove the 
short fibres which have hitherto adhered to the seed. This regained cot- n^fgj-g 
ton is known as linters and amounts annually to about 800,000 bales. 

Being of very short staple this reginned cotton is adapted for the Felt and 
manufacture of felts and surgical dressings, both of which are impor- Surgical 
tant by-products. Dressings 

The manufacture of small-wares and lace curtains is another minor 
branch of cotton manufacture. Here, however, domestic production is 
comparatively small, and the bulk of the lace used is imported. Never- 
theless probably over 75,000,000 yards* of the lace are made annually Lace 
in this country. 

Gun-cotton, a highly explosive substance, is obtained by soaking Gun Cotton 
cotton (usually linters) in nitric and sulphuric acids and then leaving 
it to dry. And again, gun-cotton dissolved in ether and alcohol yields 
the much used surgical adhesive known as collodion. Collodion 

The stems and leaves of the cotton plant are used for fodder, the 
seed hulls for fertilizer, and there is in fact no part of the plant from 
which man has not learned to derive some useful product. 



*This figure is only roughly approximated. 



5471 



PART THREE 

FROM MILL TO CONSUMER 



CHAPTER XIII 



Industrial Organization 

Before we proceed in the next chapter to discuss the various ways in 
which cotton goods are marketed we shall first take a cursory glance at 
the way in which the industry is subdivided. 

The president of a cotton mill is usually not the active head of the 
business; his position corresponds to that of the chairman of the board 
of directors in the usual banking or mercantile corporation. The mill 
treasurer is, on the other hand, the chief directive force, and he per- 
forms the two all-important functions of buying the mill's raw cotton 
and selling its product, either direct or through other channels. In the 
mills of New Bedford and Fall River, which make chiefly gray goods, 
the treasurer usually has his office at the mill. In most other New Eng- 
land mills the treasurer is usually a member of a selling house and is 
frequently the treasurer for more than one mill. 

Where the treasurer has his office in the mill the man who has charge 
of the actual operation is known as the mill superintendent. His func- 
tions include the general management of the plant and the purchasing 
of supplies other than cotton. Where the treasurer maintains his office 
in a selling house, the operating head is known as an Agent and enjoys 
a greater degree of responsibility and independence. There are of 
course a varying number of minor operating chiefs in charge of sundry 
departments. 

The average New England cotton mill contains about fifty thousand 
spindles, while the Southern mill runs about twenty-five thousand. The 
vast majority of mills do both spinning and weaving, although some 
Southern mills sell yarn and some Pennsylvania establishments do 
nothing but weave. Of the entire nimiber of spindles in the country, 
83%, and of the looms 97%, are in mills which do both spinning and 
weaving. 

In contrast to the tendency towards unification in spinning and weav- 
ing is the ever-increasing segregation of the converting plants. The 
rise of the merchant-converter, whom we shall encounter in the next 
chapter, the growing demand for a great variety of finishes, and the 
fact that converting is very much cheaper on a large scale, have all 
brought about an increasing tendency on the part of the mill to sell its 
cloth in the gray, or to have it finished on commission. 

While a few large knitting mills spin their own yarn, this is the ex- 
ception rather than the rule. On the other hand the knitting mills finish 
their product for the market themselves, and sell either direct or through 
a selling house. 



The Mill 
Treasurer 



The Agent 
or Supt. 



Spinning 
and Weaving 
in Same 
Plant 



Segregation 
of the 
Converter 



Knitting 



ysu 



CHAPTER XIV 



1. 

Selling 
Direct 



Growth of 
the Selling 
House 



"Fancies' 



Finances 



The Distribution of Products 

There are four general ways in which a cotton mill may dispose of 
its products: 1. By selling direct. 2. Through a selling house. 
3. Through a broker. 4. Through a converter. 

A few very large mills maintain selling offices of their own in the 
large centers of distribution through which they market their goods di- 
rect to the jobbers and retailers. In most cases where direct selling is 
done, however, the goods are sold in the gray by the mill treasurer at 
the mill. This practice is common with those mills which make staple 
gray goods and which, when not sold ahead, are able to manufacture 
for stock against spot sales. A few Southern yarn mills also sell direct. 

The relation between the manufacturer and commercial banker or 
commission house is as old as the industry itself. Slater's first mill in 
1790 was financed by Almy & Brown of Boston, who undertook to mar- 
ket his goods and also to furnish him the credit he needed to buy cotton 
and supplies. In the early days the cloth was sold at auction by the 
selling house and the proceeds less commission credited to the mill. 
Later on the factors developed extensive selling organizations through- 
out the country by means of which they were able to market the 
products of a good many mills. 

The distribution of fancy goods requires a great deal of skill. The 
Fall and Spring lines to be manufactured by the mills are sent out to 
the trade by the selling house about six months ahead, and orders are 
taken before manufacture begins so as to be sure that the line will 
"take". Of course there is always the danger of cancellations even 
then, for which the selling house must bear most of the responsibility. 

In addition to distributing the goods and guaranteeing the accounts, 
the commission house renders financial assistance either by advancing 
on the mill's product, or by indorsing its notes. In return it receives 
the sole agency for the mill's products, interest on the money advanced, 
and a commission. The latter varies with the amount of financial as- 
sistance required by the mill and the desirability of the risk. 

As a general rule the Southern mills, because of their distance from 
the chief markets in New York, Boston, and Philadelphia, are more 
dependent upon their selling agents than the New England manufac- 
turers. 

In New England a great number of manufacturers are amply able to 
finance themselves, and could if necessary sell their own products. 
Stock ownership, however, and old ties have frequently kept up the re- 
lationship with the selling houses after its usefulness was partly out- 
worn. Nevertheless in the selling of fancy goods, even where the mill 



^52 



is supplied with plenty of capital, the commission house fulfills a very 
necessary function. 

Gray goods are very often sold either by a mill or a selling house 
through the medium of a cloth broker. The latter is strictly a middle 
man in that he does nothing but bring together prospective purchaser 
and seller. In the event of sale he gets a commission of 1/2%, which he 
often more than earns by his efforts. These brokers are in touch with 
all the mills, converters, and consumers. 

While there are some independent finishing establishments, most of 
them operate on a commission basis for merchant converters. The lat- 
ter are a class of merchants of comparatively recent origin, having ap- 
peared first about 1880, since which time they have practically taken 
control of the finisliing industry. They buy gray goods either direct 
from the mill, or through a broker or selling house, and have them fin- 
ished according to whatever they think the requirements of the market 
are. Inasmuch as they pay on short credit and carry the goods during 
conversion, frequently selling on several months' credit to jobbers and 
retailers, they perform an important part of the financing of the cloth. 
Their recent rapid rise has been due largely to the growing demand 
for a multiplicity of seasonal designs. 

Some large cutters-up, and a few big mail-order houses do their own 
finishing or have it done. As a rule they buy from converters and sell 
to the jobber, retailer, or consumer. 

We have now traced the cotton from the seed through the various 
processes of manufacture and finishing, and followed the finished 
goods through the channels of distribution to the consumer. It remains 
only for us to compare briefly the position of the United States with 
that of other countres, and the position of the various sections within 
the United States. 



3. 
The Broker 



4. 
Merchant 
Converters 



53 



PART FOUR 

THE POSITION OF THE UNITED STATES 



WOdLD'S COTTON PflODUCTION 

1908 



WORLD'S COTTON PRODUCTION 

1918-9 





WOR,LD'S COTTON CONSUMPTIOM 

1908 



WORLDS COTTON CONSUMPTION 

1918-9 





CHAPTER XV 
Cotton Production and Consumption 

Ever since the Civil War the United States has produced more than 
half of the world's cotton crop. From 1860 to 1900 about one-third of 
the annual crop was consumed by the domestic industries, and from 
that time domestic takings have increased to an average of over 50% 
in the last four years. During the same period the actual size of the 
annual crops increased enormously. If we take the figures from the 
present back to 1868-9 in decennial periods it will give a rough idea of 
the progress since that time. 



Season 
1868-9 
1878-9 
1888-9 
1898-9 
1908-9 
1918-9 



Crop in bales 
2,434 " 
5,074 
6,939 

11,256 

13,817 

11,360 



thousands 



Exports 


% of dom. takings 


' 1,447 


41% 


I 3,466 


31 


' 4,736 


33 


1 7,313 


32 


' 8,447 


38 


. 5,646 


48 



The banner years were from 1911-2 through 1914-5, the largest in- 
dividual year being 1911-2 with 16,101,000 bales. The last four years 
have shown a marked falling off, due chiefly to the shortage of labor 
and fertilizer brought about by the War. 

While the last year was in many respects an abnormal one it will be 
interesting to note the position of the United States as a producer and 
consumer of cotton with respect to the rest of the world. The circular 
diagrams will perhaps present the picture more graphically than words 
or figures, and in order to afford a basis of comparison, the Interna- 
tional Bureau of American Republics' figures for 1908 are reproduced. 



World's 
Spindles 



CHAPTER XVI 
Export of Cotton Goods 

While the United States holds undisputed supremacy in the produc- 
tion of cotton this is not true in the field of cotton manufacture. Of 
the total cotton spindles in the world, estimated in 1919 at 153,505,000, 
Great Britain had 59,000,000, the United States 34,200,000, and Ger- 
many was ranked third with 10,000,000. 

In spite of this preponderance of spindles in the United Kingdom 
Professor M. T. Copeland's averages for the period of 1910 to 1913 
show two surprising facts: first, that out of a total of 7,816,500,000 
pounds of cotton piece goods produced in the world the United States Piece 
produced 24.4% against 18% for Great Britain; and second, that Goods 
Great Britain's 59 million spindles consume only about one half as P^^^^^^t^on 



1571 



World's 
Exports 



U. S. Exports 



Branch 
Banking 



American 
Mills do 
Not Cater 
to Foreign 
Taste 



The War 



The Future 



much cotton as the 34 million in this country. The reason for this is 
that the British manufacture a far greater proportion of fine goods 
than we do. 

Professor Copeland estimates that of the seven billion odd pounds 
of cotton piece goods produced in the world only about 22.5% were 
exported from the countries where they were produced. Out of this 
1,754,700,000 pounds exported, Great Britain exported 64% and the 
United States only 5.7%. In other words, where we consume about 
95% of our production, Great Britain consumes only about 22%, and 
so must seek foreign markets for 78% of her goods. 

Our own export trade in cotton goods has grown up as an accident 
rather than from any carefully planned campaign. Since the American 
manufacturer has always had a market at home for practically all he 
produced he has made very little effort to enter foreign fields. More- 
over, where British merchants have hitherto enjoyed the advantage of 
the most complete network of transportation and banking facilities in 
all parts of the world, our merchants have had to ship their goods in 
foreign bottoms and finance them through foreign banks. It is only 
recently that a few of the country's largest and most progressive banks 
have established branches in foreign countries, notably in South 
America, through which the would-be exporter can procure assistance, 
and the phenomenal growth of such establishments bears witness to 
the existing need. 

One corollary evil to the large home market has been that in the past 
our manufacturers have not made any appreciable effort to accommo- 
date the demand in foreign countries. Poorly equipped salesmen were 
sent out to South America to sell the natives not what they considered 
stylish goods, but "the latest thing on Broadway." The result has been 
that we have only been able to pick up the crumbs left by British and 
German merchants. 

The War brought about a condition where Germany was totally put 
out of the running and Great Britain could only supply a part of the 
goods she was accustomed to sell her foreign customers. This consti- 
tuted a splendid opening for American trade, but the fact that our 
factories were running overtime to meet the war-needs of our Allies, 
together with the scarcity of labor and raw material, prevented our 
taking advantage of this opportunity to the fullest extent. Nevertheless 
satisfactory progress has been made of recent years, and our exports 
in 1919 amounted to over 273 millions of dollars. 

South and Central America, Cuba and the Philippines, Australia and 
China are the chief markets for the American exporter of cotton goods, 
and it is to be hoped that trade with these countries will continue to 
show a yearly gain. Moreover, when the exchanges of European coun- 
tries are again restored more nearly to their par values, we may hope 
to see our cotton goods sold on European markets in large quantities. 



1581 



CHAPTER XVII 



Import of Cotton Goods 

In the early days of the cotton industry in this country we imported 
practically everything except the coarsest cloths. The War of 1812 
cut off British goods and started American manufacturers making vari- 
ous fabrics they had hitherto not attempted, so that by 1860 our imports 
of cotton goods had been limited to practically the finest grades of 
cloth. Since that time the protective tariff and labor-saving inventions 
have made it possible for us to reduce our imports of cotton piece goods 
down to about %% of our consumption. The only cotton product 
which we import rather heavily at the present time is lace. 

The most recent Department of Commerce figures show a phenomenal 
increase in cotton goods imported in the first half of 1920. The 
salient items are tabulated below. It would be mistaken to argue from 
these figures that our imports are on the increase. The decline of 
foreign exchanges, but more than that, the abnormal demand for goods 
and the sold out condition of our manufacturers in the first months of 
the year, caused large importations of cloth for the sake of the earlier 
deliveries promised by foreign manufacturers. Since then the drastic 
decline in prices and numerous cancellations have restored conditions 
far more nearly to normal, so that it would be surprising if the figures 
for the second half-year did not show very much smaller imports. 

1920 

1910 1918 1919 First 7 mos. 

Cloth Yards 61,947,101 45,015,423 24,474,101 104,563,210 

Cloth dollars $9,040,667 $13,266,394 $9,324,412 $36,586,798 

Lace Yards 309,195,754 165,666,868 

Lace doUars $36,828,162 $10,421,083 $7,721,04^ $9,520,116 

Total Cotton Products 

Dollars $68,052,731 $44,751,181 $34,762,723 $90,291,273 

Foreign manufacturers and merchants sell some of their goods in 
this country, but the bulk of the importation is carried on by American 
jobbers and retailers, particularly by the large department stores, which 
send their buyers to Europe. Through buying direct from foreign 
manufacturers these concerns save much of the cost of importation. 

The present situation in Germany presents some interesting possi- 
bilities for the American cotton trade. Before the War Germany and 
Japan constituted the chief outlets for the short staple cotton grown in 
this country, and due very largely to the withdrawal of Germany from 
world commerce, considerable stocks of short cotton have accumulated. 
The necessity for either carrying the short staples or else selling them 
at a sacrifice has worked quite a hardship on the American cotton trade. 
Germany, on the other hand, is able to run only a small proportion of 
her ten million spindles, chiefly because of the lack of raw material. 



Past and 

Present 

Imports 



1920 



American 
Jobbers 
and 
Retailers 

Possibilities 
of Trade 
with 
Germany 



i59\ 



It would seem, thierefore, that a possibility- exists of building up a trade 
with her whereby she would obtain cotton here, manufacture it into 
goods, and pay us either in finished goods or with tlie proceeds of 
selling them in continental markets. The chief difficulties are presented 
by the demoralized condition of German exchange and German credit, 
but these obstacles should not be insuperable; in fact steps have already 
been taken in this direction bv some American interests. 



CIL\PTER XVIII 



The Various Sections of the United States 

In a previous chapter we have outlined the earlv growth of the cotton 
manufacturing industrv in the Lnited States. We saw that in 1860 there 
were 1091 mills of which 570 were in Xew England. 340 in the Middle 
Atlantic States, 159 in the South, and 11 in the Middle West. We 
noted also that 4S^c of all the spindles were in the states of Massachu- 
setts and Rhode Island. 
Middle Tl^e Middle Atlantic States have made very little progress in this in- 

Atlantic dustry since the Civil War. The number of establishments has decreased, 

States and the spindlage has remained fairly near the million and a half mark 

since 1900. At the same time this statement is somewhat misleading, 
because Philadelphia, while not a spinning centre, is the nucleus of an 
extensive fancy wea%Tng industry, the chief product of which is cotton 
upholstery. ^Moreover. 60-c of the knitting industry is located in these 
states, underwear manufacture being focussed at Cohoes, X. \., while 
hosierv knitting mills are grouped around Philadelphia. Xew ^ork and 
Philadelphia are furthermore important as cloth markets and as the 
home of a great number of merchant converters. 
The South ^^ have alreadv noted the phenomenal rise of the South as a manu- 

facturing section since the Civil War and particularlv since 1880. In 
1919 14600.000 of the 34200.000 spindles in the country were esti- 
mated to be in the Southern states. South Carolina has the largest 
mills and spins the finest yarns, but the industry has also grown to 
very large proportions in Xorth Carolina, Georgia, and Alabama. The 
Southern mills predominate in the production of the coarser yarns and 
cloths, such as sheetings, shirtings, cottonades. duck, and drill. They 
also make a considerable quantity.- of ginghams, ticks, denims, and 
stripes. 
Advantages Proximit}" to the source of raw material saves freight and tare, but 

^^ this is more than off-set by the loss of freight on cloth and the remote- 

Disadvantages j^g-. {^qj^ tie markets, tax rates are lower in the South, but against 
this there is not the industrial concentration characteristic of Xew 
England. The chief advantage of the Southern mills heretofore has 
been in the abundance of cheaper labor and longer hours, but it is a 



[601 



question whether the growth of the industry has not already discounted 
this factor. One unfortunate feature is that the Southern mills cannot 
do their own finishing because in most cases the water is unsuitable. 

The tendency in New England since the Civil War has been towards 
fewer and larger mills. As against 570 mills with 3.859.000 spindles 
m 1860, there were 308 with 13,911,000 in 1905. The early mills 
located where there was water-power or tide-water coal, and this has 
brought about a concentration of the industry in a few large textile 
cities. New Bedford, Fall River, Lowell, Lawrence, and Taunton in 
Massachusetts, Manchester, N. H., and Pawtucket, R. L, contain over 
one third of all the spindles in the country. The looms of Massachusetts 
alone turn out two billion yards of cotton goods per year, — 1,136.363 
miles at the rates of eight miles per minute I This would be eighteen 
yards for every person in the United States, and we are estimated to 
consimie nineteen yards per person. Massachusetts is third in knitting, 
and, according to W. J. Showalter, makes enough hosiery each year to 
cover 4€,000 miles of feet or legs. 

New England predominates in the manufacture of print cloths, twills, 
fancy weaves, sateens, plush, velvet, and corduroy, besides making 
about half of the ginghams, ticks, and denims, and a great variety of 
other minor lines. Four Capital Cs make for a continued supremacy 
of this section of the country in textile manufacture: Capital, Concen- 
tration, Credit, and Climate. The last constitutes a very important 
factor, for not only is the humidity in New England peculiarly adapted 
for cotton manufacture, but the water, which in the South is too alkaline, 
lends itself admirably to the finishing processes. Labor in New Eng- 
land is more expensive, but also more efficient, even though the recent 
reduction from the 54 to the 48 hour week has apparently set the 
country back as much as if over three and one half million spindles 
had been wiped out. Whether this loss is permanent, or will ultimately 
be offset by increased efficiency, remains to be seen. 

A survey of the cotton industry, no matter how brief, would not be 
complete without a word about the manufacture of textile machinery-. 
Practically all the machinerv used in this countrv is of domestic make. 
As might be expected, gins and compresses are made very largely in 
the South, but practicallv all the yarn making machinery is produced 
by about seven concerns, all of which are in New England. Further- 
more all the looms made in this countrv are constructed by four large 
manufacturers, all of whom are located in Massachusetts. Finishing 
machinery is made to a large extent in the fancy weaving center of 
Philadelphia, but a hea\y percentage is also manufactured in New 
England. Finally, most of the knitting frames are built bv New Eng- 
land manufacturers. It is not. without reason that this section of the 
country has been called "The Beehive of Business." 



yew 
England 



Reasons for 
Supremacy 



Textile 
Machinery 



1611 



THE FIRST NATIONAL BANK OF BOSTON 

AND THE 

COTTON INDUSTRIES 

Spindles 

In the Country . . . . 34,200,000 

In New England .... 18,065,857 53% 

In mills which are customers of 

The First National Bank of Boston 5,501,362 16% 
30% of the spindles in New England are in mills which are 
customers of The First National Bank of Boston. 

Looms 

In the Country .... 672,754 

In New England .... 377,121 56% 

In mills which are customers of 

The First National Bank of Boston 122,908 18% 

32% of the looms in New England are in mills which are 
customers of The First National Bank of Boston. 

About 90% of the textile machinery used in all the cotton 
mills in the United States is manufactured by concerns which 
are customers of The First National Bank of Boston. 

Besides this a great number of the leading cotton mer- 
chants, brokers, converters, and knitters, as well as seed oil 
producers, are customers of The First National Bank of Bos- 
ton, not to mention the large selling houses through which it 
indirectly shares in the financing of a great number of mills 
whose spindles and looms have not been taken into consid- 
eration above. 



i^K^i»#P?»^« 



DIRECTORS 



Robert Amory 
Amory, Browne & Co. 

Calvin Austin 
Pres. Eastern Steamship Lineg Inc. 

Frederick Ayer 

Edward E. Blodgett 
Blodgett, Jones, Burnham & Bingham, 
Attorneys 

Roland W. Boyden 
Hopes, Gray, Boyden & Perkins, 
Attorneys 

George W. Brown 

Vice Pres. United Shoe Machinery Co. 

Earle P. Charlton 
Vice Pres. F. W. Woolworth Co. 

Carl P. Dennett 

Pres. Massachusetts Iron & Steel Co. 

George A. Draper 
Treasurer Draper Corporation, 
Hopedale, Mass. 

Robert J. Edwards 

Wilmot R. Evans 
Pres. Boston Five Cents Savings Bank 

W. Cameron Forbes • 
J. M. Forbes & Co. 

F. Abbot Goodhue 
Pres. International Acceptance Bank, Inc. 

Levi H. Greenwood 
Vice Pres. Hey wood- Wakefield Co. 

Frank J. Hale 
Saco-Lowell Shops 



Charles P. Hall 
Vice Pres. American Hide and 
Leather Co. 

Frank B. Hopewell 
L. C. Chase & Co. 

Herbert W. Mason 

Treasurer S. D. Warren Co. 

Frederic C. McDuffie 

Treasurer York Mfg. Company and 
Everett Mills 

Everett Morss 

Pres. Simplex Wire and Cable Co. 

Andrew W. Preston 

President United Fruit Co. 

C. G. Rice 

N. W. Rice Company 

Gifford K. Simonds 

Siraonds Mfg. Co., Fitchburg, Mass. 

Nathaniel Stevens 
President M. T. Stevens & Sons Co., 
North Andover, Mass. 

Albert B. WeUs 

Treasurer American Optical Co., 
Southbridge, Mass. 

George R. White 

President Potter Drug and Chemical 
Corporation 

Daniel G. Wing 
President 

Sidney W. Winslow, Jr. 
Vice Pres. United Shoe Machinery Co. 



